---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-055532"
form_type: "8-K"
ticker: "INN"
cik: "0001497645"
company_name: "Summit Hotel Properties, Inc."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:57:50.629618+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Summit Hotel Q1 net loss narrows to $5.2M; RevPAR +19.3%, dividend raised 50%

## Summary
- Net loss attributable to common stockholders narrowed to $5.2M ($0.05/sh) from $12.4M ($0.12/sh) YoY.
- Pro forma RevPAR increased 19.3% to $118.18; ADR up 11.2% to $171.63; occupancy 68.9%.
- Adjusted EBITDAre rose 35.0% to $44.4M from $32.9M; Adjusted FFO per share $0.22 vs $0.17.
- Common dividend hiked 50% to annualized $0.24 per share; maintains prudent payout ratio.
- Urban-market RevPAR up 25% YoY; recently acquired NewcrestImage hotels exceeded 2019 RevPAR.

## SEC filing metadata
- accession: 0001104659-23-055532
- form_type: 8-K
- ticker: INN
- cik: 0001497645
- company_name: Summit Hotel Properties, Inc.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1497645/000110465923055532/0001104659-23-055532-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497645/000110465923055532/tm2314482d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-055532
- JSON: https://secwatch.observer/filing/0001104659-23-055532.json
- Plain text: https://secwatch.observer/filing/0001104659-23-055532.txt

## Key facts
- Earnings Releases
  Summit Hotel Properties, Inc. reported the three months ended March 31, 2023 results: revenue $182,383, net income $(5,228), EPS $(0.05) per diluted share.
  - Period: the three months ended March 31, 2023
  - Revenue: $182,383
  - Net income: $(5,228)
  - EPS: $(0.05) per diluted share
  - Result: reported results
  source text: the Three Months Ended March 31, 2023 2022 Net loss attributable to common stockholders $ (5,228 ) $ (12,379 ) Net loss per diluted share $ (0.05 ) $ (0.12 ) Total revenues $ 182,383 $ 141,869 EBITDA re (1) $ 55,340 $ 38,738 Adjusted EBITDA re (1) $ 44,428 $ 32,921 FFO (1) $ 22,076 $ 14,493 Adjusted FFO (1) $ 26,261 $ 20,141 FFO per diluted share and unit
  evidence_url: https://www.sec.gov/Archives/edgar/data/1497645/000110465923055532/0001104659-23-055532-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.